Branstad hopes for compromise in property tax debate
Wednesday, April 17, 2013 10:07 AM
Gov. Terry Branstad is not “drawing any lines in the sand” over property tax proposals that have passed out of the Iowa House and Senate, both of which appear to take opposite forks in the road.
The Senate passed a bill Monday that is targeted primarily to small businesses.
The House has passed a bill that eventually would tax commercial property at 80 percent of its assessed value. The owners of commercial and industrial properties currently pay tax calculated on 100 percent of assessed value. The plan also would limit growth of all property taxes.
“The governor will give serious examination and consideration to any property tax proposal in the Legislature,” Branstad spokesman Tim Albrecht said in an email. “We are pleased that the Senate is starting to move a property tax bill, and we consider this to be progress.”